Vattenfall is looking to new nuclear power

5 September 2023

Vattenfall's CEO Anna Borg is currently leading a delegation of Group managers in visits to various countries developing new nuclear power sites, starting with Canada, to talk with developers of nuclear power technology, power companies and authorities. It is the first in a series of such visits with the aim of increasing knowledge ahead of a possible new construction of nuclear power in Sweden.

Nuclear power is an important part of the fossil-free energy mix in the country and its importance will increase in line with the increased demand for electricity from Swedish industry and society. Electricity demand is estimated to double within the next 20 years.

Starting in summer 2022, a feasibility study has been underway to examine the conditions for building at least two new SMR reactors (small modular reactors) next to the Ringhals nuclear power plant. Vattenfall has also participated in a pilot study together with Fermi Energia, starting in 2020, on building an SMR in Estonia.

 “Vattenfall wants to invest in new nuclear power as well as other fossil-free power types. We are a player with experience, competence and access to places where nuclear power already currently exists. At the same time, no new nuclear power has been built in Sweden for several decades. The purpose of the trip is therefore to deepen the understanding of how new construction of nuclear power can be done quickly and efficiently, lessons learned, pitfalls, background to technology choices and regulatory conditions. We will look at both SMR and large-scale nuclear power,” commented Anna Borg.

The delegation will meet with power companies, technology suppliers and authorities connected to the countries' respective nuclear power programmes in Canada, France and Great Britain. Representatives from companies in the USA and Korea will also be part of the programme. The feasibility study on new SMR reactors is expected to be completed later this year.

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